What is the present valuation and projected CAGR of the foundries market?
The foundries market size has grown strongly in recent years. It will grow from $190.81 billion in 2024 to $201.64 billion in 2025 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to automotive and aerospace industry demand, construction and infrastructure development, consumer goods manufacturing, energy sector requirements, globalization of supply chains.
The foundries market size is expected to see steady growth in the next few years. It will grow to $238.17 billion in 2029 at a compound annual growth rate (CAGR) of 4.2%. The growth in the forecast period can be attributed to transition to electric vehicles (evs), renewable energy infrastructure projects, advancements in material science, stricter environmental regulations, customization and prototyping services. Major trends in the forecast period include digital twin technology implementation, technological advances in casting processes, advanced casting technologies, digitalization and smart foundries, demand for lightweight materials.
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How has the foundries market evolved, and what factors have shaped its growth?
The foundries’ market growth is aided by stable economic growth forecasted in many developed and developing countries. For instance, according to the World Bank, China’s gross domestic product (GDP) grew to $17.94 trillion in 2022 compared to $17.82 trillion in 2021. Additionally, India’s gross domestic product (GDP) grew by between 8% and 8.5% in 2022-2023 and 9.2% in 2021–2022. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments in the end-user markets, thereby driving the foundries market during the forecast period.
What are the major segments of the foundries market?
The foundries market covered in this report is segmented –
1) By Type: Ferrous Metal Foundries, Nonferrous Metal Foundries
2) By Foundry Type: Pure Play Foundry, Integrated Device Manufacturers
3) By Application: Automobile, Pipes and Fittings, Agricultural Machinery, Electrical Equipment, Machine Tools, Other Applications
Subsegments:
1) By Ferrous Metal Foundries: Gray Iron Foundries, Ductile Iron Foundries, Cast Iron Foundries, Steel Foundries
2) By Nonferrous Metal Foundries: Aluminum Foundries, Copper Foundries, Zinc Foundries, Magnesium Foundries, Other Nonferrous Foundries
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Which companies dominate the foundries market?
Major companies operating in the foundries market include General Foundries Inc., Waupaca Foundry Inc., Neenah Foundry Company, Gibbs Die Casting Corporation, Precision Castparts Corp., Hitachi Metals Ltd., DONGGUAN ALFA METAL WORKSHOP CO. LTD, Ryobi Limited, Grede Foundries Inc., Georg Fischer Ltd., Alcoa Corporation, Reliance Foundry Co. Ltd., Brukar Inc., John Winter & Co Ltd, Cifunsa Foundry, MetalTek International, Bharat Forge Ltd., Walbro LLC, Wescast Industries Inc., Nemak S.A.B. de C.V., Consolidated Metco Inc., Howmet Aerospace Inc., Cadillac Casting Inc., Harrison Steel Castings Company, Zollern GmbH & Co. KG, Brembo S.p.A., Eck Industries Inc., Hubbardton Forge
How will evolving trends contribute to the growth of the foundries market?
The global prices of steel, nonferrous metals, and other metals were volatile during the forecast period and restrained the growth of the foundries market. For instance, in May 2023, according to a report published by the Fabricator, a US-based magazine for the metal forming and fabricating industry, despite a price spike in Q1 2023, 65% of survey respondents believe prices are going to flatten out in July, August, or later. The volatility of metal prices created difficulties for companies in securing stable purchasing contracts for raw materials, restraining the growth of the foundries market.
What are the key regional dynamics of the foundries market, and which region leads in market share?
The countries covered in the foundries market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.
What Does The Foundries Market Report 2025 Offer?
The foundries market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Foundries refer to a type of plant where machine parts are made by melting metal and pouring it into containers with specific shapes to produce castings by pouring molten metal into Molds that are used in production of different types of metallic products to ease metal manufacturing, reduce cost of operations and produce high strength products.
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